Wall Street’s main indexes ticked up on Thursday after closing lower in the previous session. Investors now await November inflation data that could be a catalyst for the market.
Here are some of Thursday’s biggest stock movers:
Biggest stock gainers
- Micron Technology (MU) +9.6% – Shares rose after the memory maker reported fiscal first-quarter results and guidance that were well above Wall Street’s forecast. Looking ahead to the second quarter, Micron said it expects to earn between $8.22 and $8.62 per share on an adjusted basis, while revenue is expected to be between $18.3B and $19.1B. Analysts had expected the company to earn an adjusted $4.78 per share on $14.3B in revenue. The company also forecasts a $100B HBM market by 2028 as supply tightness persists through 2026.
- lululemon athletica (LULU) +4.5% Elliott Investment Management bagged a stake exceeding $1 billion in Lululemon Athletica (LULU), positioning it as one of the company’s largest shareholders, and is lining up potential CEO candidates, The Wall Street Journal reported. Activist investor Elliott is pushing for leadership changes at the struggling athletic apparel retailer, including proposing Jane Nielsen—a former CFO and COO at Ralph Lauren—as a potential new CEO, the report said.
Biggest stock losers
- Vision Marine Technologies (VMAR) -32% – Stock tumbled after the company announced the pricing of a 32M unit public offering, aiming for gross proceeds of $9.6 million. Each unit, priced at $0.30, includes a common share (or pre-funded warrant) and a five-year warrant with an exercise price of $0.375.
- Vistagen Therapeutics (VTGN) -4% – Shares extended losses to a second trading session after the company announced that the PALISADE-3 Phase 3 study of intranasal fasedienol for the acute treatment of social anxiety disorder did not demonstrate a statistically significant improvement on the primary endpoint of change on the Subjective Units of Distress Scale.
- Medline (MDLN) -5% Shares pulled back after surging on its first day of trading on Wednesday after its upsized $6.26B initial public offering was more than 10 times oversubscribed, according to Bloomberg.